Growth at a CAGR of 6.3% in the Automotive Rubber-Molded Components Market during the forecast period (2018-2023)| Top Vendors - CONTINENTAL AG, DANA HOLDING CORPORATION, HUTCHISON SA,TRELLEBORG AB, amongst others

Market Analysis:

Asia-Pacific to Dominate the Market
The Asia-Pacific region was the largest market for automotive rubber-molded components, both in terms production and consumption. This can be attributed to India and China emerging as major automotive components manufacture hubs, sourcing to the western auto giants.

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Innovation in the automobile and automobile components manufacturing industry is set to revolutionize the automobile rubber component industry around the world. With the growing demand for fuel-efficient and less polluting vehicles, the market for lightweight automotive components of higher durability is on the rise, which is also dependent on the rubber components. Further, with chemical companies such as Chem-Trend coming up with better release agents and molding process aids, the market for automotive rubber molded parts is expected to touch around USD 46 billion by 2023. Technological advancements have been the primary push for this growth. However, on the downside, crunch in raw materials and swinging raw material prices are expected to act as friction factors for the market growth.

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Market Segments:
Automotive Rubber-Molded Components Market is segmented by:
1. Material Type: Ethylene Propylene Diene Monomer (EPDM), Natural Rubber (NR), Styrene-Butadiene Rubber (SBR), Others
2. Component Type: Seals, Gaskets, Weather-Strips, Hoses, Others
3. Vehicle Type: Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV), Others
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments
• Government support for FDIs in these countries has encouraged small and medium scale regional players to enter the rubber molding market, with Bohra Rubber Pvt. Ltd as the top company producing rubber components. As of 2016, China has emerged as the leader in both Asia-Pacific and global rubber-molded automotive components markets. North America, in the light of EPA regulations and CAFu00c9 standards, is expected to witness a higher CAGR over the coming five years in the market.

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